CAF said it borrowed €100 million ($108 million) from Italy’s Cassa Depositi e Prestiti (CDP) to fund sustainable development projects in the region.
The Latin American development bank said it plans to use the financing to fund investments in clean transportation, water and sanitation projects and others related to the transition to renewable energy, it said Tuesday in a press release.
The deal marks CAF’s third loan from the Italian development bank, it added.
CAF previously borrowed €100 million from CDP in June 2020 to finance climate projects and an additional €100 million in January 2021 to aid economies in the region affected by the pandemic.
IFC LOANS
Meanwhile, the World Bank’s International Finance Corporation (IFC) said it arranged a total of $65 million in financing for MSME lenders in Chile and Colombia and for a new hospital in Ecuador.
The IFC granted a COP120 billion (roughly $30 million) loan to Colombia’s Banco Mundo Mujer, $10 million for Chile’s Fondo Esperanza, and $25 million for Ecuadorian healthcare organization Grupo Conclina.